Robservations on the media beat:
If the reported $500 million deal goes through to sell the Los Angeles Times to biotech billionaire Patrick Soon-Shiong, it would mark the end of the paper’s rocky relationship with Chicago-based tronc and predecessor Tribune Co. after 18 years. It also would dash the ambitions of tronc chairman Michael Ferro to become a mover and shaker in Hollywood. (Could the sale of tronc’s other papers — including the Chicago Tribune and New York Daily News — be far off?) It’s unclear what an ownership change would mean for Jim Kirk, who was named editor-in-chief of the L.A. Times just last week. The latest assignment was Kirk’s fourth role since he resigned as publisher and editor of the Sun-Times to join tronc in August. Also included in the sale to Soon-Shiong would be the San Diego Union-Tribune. Continue reading